While there is no place to stay in Maca [1] or anywhere along the road until Cabanaconde [2], this stretch of the canyon is the area that draws the most tourist attention.
The dramatic views, the Cruz del Cóndor [3], and an impressive hike up to a steaming geyser [4] are worth the haul from wherever happens to be your base point.
If you do not come with an organized tour, your option for seeing this section of the canyon is a Chivay [5]- or Cabanaconde [2]-based bus company. There are three that run regularly: Empresa de Transportes Reyna (Chivay tel. 054/53-1014), Turismo Milagros (Chivay tel. 054/53-1115), and Transportes Andalucia (Chivay tel. 054/53-1106).
Catch an early morning bus from one of the base towns, and ask to be let off at La Cruz del Cóndor [3]. For the return, stand by the side of the road and flag down one of the same companies, whose buses make a return trip late morning.
Links:
[1] http://www.moon.com/destinations/peru/lake-titicaca-and-canyon-country/colca-canyon/maca-cabanaconde/maca-and-pinchollo
[2] http://www.moon.com/destinations/peru/lake-titicaca-and-canyon-country/colca-canyon/cabanaconde
[3] http://www.moon.com/destinations/peru/lake-titicaca-and-canyon-country/colca-canyon/maca-cabanaconde/la-cruz-del-condor
[4] http://www.moon.com/destinations/peru/lake-titicaca-and-canyon-country/colca-canyon/maca-cabanaconde/geyser
[5] http://www.moon.com/destinations/peru/lake-titicaca-and-canyon-country/colca-canyon/chivay